High Yields on Chinese Corporate Bonds Lure Investors

Concerns About Economic Growth Put Aside

Global investors are buying Chinese debt at a record pace, attracted by the high yields and defying growing concerns over the health of the world's second-largest economy.

But the higher borrowing costs Chinese companies need to pay—coming when those in most other emerging markets are moving lower—are a reminder of the country's mounting risks as bad loans multiply, the pace of growth slows and the once white-hot property market...